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Should You Consider Taking A Lower Wage?

Posted inNews archive

on13 Mar 2018

It’s no secret that finding a secure job in today’s society is majorly difficult, with many jobs being hard to come by.

With that in mind, many people are eager to accept the first job offer that comes their way, but should you be paying more attention to the wage slip involved? Money won’t buy you happiness, however it will buy you stability and comfort in your own home, knowing that you have the funds to afford the compulsory bills. While there are short term loans available in the event of a financial emergency, you may find that taking a higher wage could allow you the opportunity to build up a bigger budget to deal with these emergency situations. Should you consider taking a lower wage? Let’s find out.

Money Isn’t Everything…

Truthfully, money isn’t everything, and while you can argue that without it, you’d be without a home, it’s something that you shouldn’t revolve yourself and decisions around. Taking a higher wage might make your bank account healthier, but is it really worth it if you’re arriving at work every day absolutely dreading the tasks ahead? Really, it’s much more beneficial to take a lower wage if it means you’re going to be happy with your job and not scream when you wake up in the morning. With the right budgeting and preparation, a lower wage can go a long way, still allowing you to live a happy and fulfilled lifestyle.

…Although It Will Pay The Bills

Having said that, for some people a lower wage just simply isn’t enough. Sure, if you’ve recently left college and you haven’t got children to think about, then it’s definitely something worth considering, but for parents who have child care, mortgages and numerous other bills and taxes to think about, a lower wage isn’t enough. While you still need to consider your happiness within the job you choose, you’ll still need to ensure it has a wage sufficient enough to cover your frequent costs, and if that means you need to job hunt for a little longer, so be it.

Lower Wages Often Go Hand In Hand With Training…

To build on this debate, lower wages often come hand in hand with a training scheme, such as an apprenticeship programme. These can be highly beneficial, as they allow you to gain on-the-job experience while still giving you the opportunity to study for and gain a qualification at the end of it, broadening your career prospects in the future. The reason behind the lower wage here is due to the government funding of your training course, however ultimately it is up to your employer to decide whether they want to pay over the minimum wage for apprentices or not. Nevertheless, these schemes are fantastic for industry newcomers, and are well worth the lower wage for the eventual outcome.

…But Is A Higher-Paid Job Better Experience?

On the other hand, you’ll often find that many companies will prefer in-depth experience when hiring new staff. While an apprenticeship will undoubtedly provide you with working experience, it’s likely that your general duties will be limited as you’ll be equipped with the least amount of responsibility, making you less valuable to future employers. As a result, accepting a higher wage will usually guarantee you a more advanced, responsible job, making it worth the wait as more employers will want you in the future.

The topic of accepting a lower wage as opposed to a larger one is very controversial, but when it comes down to it, accepting a lower wage should always be the priority if it ensures your happiness, although this is better applied to younger workers. At a younger age, when you have less responsibility and commitments, a lower wage allows you to get started in your dream career – you have your whole life ahead of you!